Jefferies raised its price target on Tesla to $1,200 from $650

Tesla Inc CEO Elon Musk takes off his coat onstage during a delivery event for Tesla China-made Model 3 cars in Shanghai, China January 7, 2020.

Aly Song | Reuters

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Jefferies nearly doubled its price target on Tesla on Thursday, saying the company’s momentum is accelerating and that it looks set to pull away from competitors. The analyst also upped his long term earnings estimates.

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